Headline from the BBC website.
Bogus PPI Complaints “Hit 6000”
My issue with this as a headline is that it is plain wrong. I know that they put the hit 6000 in quotes and therefore can pretty much say whatever they want because nobody believes anything in quotes, but quite clearly the text in the article states that it is 5661 bogus complaints. I’d argue that this is not 6000.
Perhaps I’m being petty but I always assumed the BBC had particular standards but it is clear they do not and are quite willing to “lie” to make a headline. In reality the real story is that there has been such huge miss-selling of PPI and that the banks are now making massive losses to cover paying people back thier own money. There were just more that 157,000 complaints last year (from the article) and so the bogus claim level is running at 4%. Whether that is a lot or not I’m not sure. There are probably people out there who don’t understand finance and also some people out there are complete blaggers.
I think the BBC should campain and help people understand the real story of our capitalist banks rather than sensationalise such a small part of the PPI scandal.